"If the second half of 2024 indicates the future, our preparations with updated product portfolios for different segments and strategic positioning will be a resource-efficient and adaptive industrial setup, making us wellpositioned to capture and leverage more market-driven growth" CEO, Richard Berkling.
| October - December 2024 | January - December 2024 |
| • Net sales SEK 144.1m (127.5), an increase of 13% compared to same quarter previous year | • Net sales SEK 334.3m (310.3), an increase of 8% compared to previous year |
| • Gross profit increased to SEK 57.6m (47.0) with a gross margin of 40.0% (36.9) | • Gross profit decreased to SEK 116.2m (124.0) with a gross margin of 34.8% (40.0) |
| • Operating income before items affecting comparability SEK 0.7m (-3.1) | • Operating income before items affecting comparability SEK -83.7m (-66.5) |
| • Operating income SEK 0.7m (-8.1) | • Operating income SEK -53.7m (-72.6) |
| • Net income SEK 2.3m (-10.0) | • Net income SEK -47.3m (-63.0) |
| • Operating cash flow SEK 0.7m (-48.7) | • Operating cash flow SEK -18.6m (-95.7) |
| • Earnings per share (basic and diluted) SEK -0.21 (-0.38) | • Earnings per share (basic and diluted) SEK -1.52 (-1.57) |
| • The Board of directors proposes that no dividend will be paid for the fiscal year 2024 |
Significant events during the fourth quarter
• PowerCell Group Secures Follow-up Order for Marine System 225 for SEK 42m
• PowerCell has carried out a directed issue of 5.75 million new shares of approximately SEK 182 million
• PowerCell Group Secures Aviation Project Order from Japanese Company
• PowerCell Group, now a part of H2MAC, an EU Project advancing hydrogen fuel cell solutions for Heavy Machinery
• PowerCell and ZeroAvia to collaborate on next generation fuel cell stack development
• PowerCell's appoints Anders Düring as CFO
• PowerCell partners with Australian aviation company for concept study on VTOL aircraft
Key performance indicators
| SEK million, unless other stated | Oct-Dec 2024 | Oct-Dec 2023 | Jan-Dec 2024 | Jan-Dec 2023 |
| Net sales | 144,1 | 127.5 | 334,3 | 310,3 |
| Gross profit | 57,6 | 47,0 | 116,2 | 124,0 |
| Gross margin, % | 40,0 | 36,9 | 34,8 | 40,0 |
| Operating income before items affecting comparability | 0,7 | -3,1 | -83,7 | -66,5 |
| Operating income | 0,7 | -8,1 | -53,7 | -72,6 |
| Net income | 2,3 | -10,0 | -47,3 | -63,0 |
| Earnings per share (basic and diluted), SEK | -0,21 | -0,38 | -1,52 | -1,57 |
| Equity asset ratio, % | 62,5 | 64,8 | 62,5 | 64,8 |
| Operating cash flow | 0,7 | -48,7 | -18,6 | -95,7 |
For further information, please contact:
Richard Berkling
CEO
Phone: +46 31 720 36 20
Email: richard.berkling@powercellgroup.com
Anders Düring
CFO
Phone: +46 31 720 36 20
Email: anders.during@powercellgroup.com
About PowerCell
PowerCell is a world leader in hydrogen electric solutions with unique fuel cell stacks and systems. With decades of experience, we use our expertise to accelerate the transition to an emission-free, more sustainable world. We target industries such as aviation, marine, off-road, on-road and stationary power generation. With our cutting-edge products we help our customers to reach net zero emissions already today.
We are headquartered in Gothenburg, Sweden with sales globally. PowerCell is listed on Nasdaq Stockholm.
To read more about our products and services, visit powercellgroup.com.
This information is information that PowerCell Sweden AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact persons set out above, at 2025-02-13 07:30 CET.
